This week’s market update is meant to give you a clear, calm picture of where the housing market stands — without the headline noise. The short version: rates have moved a little higher in recent weeks, but they are still lower than they were a year ago, and the broader economy continues to hold up well. Markets like this reward buyers and sellers who lean on a trusted agent and lender.
Economic Shifts: A Resilient Economy in Plain Terms
Consumer spending in April was up nearly 5% compared to the same time last year. Some of that lift came from higher gas prices, but even setting that aside, people are still spending, which means jobs and household budgets are holding steady. For anyone thinking about buying or selling a home, that steadiness is a quiet vote of confidence in the market underneath the headlines.
Federal Reserve: Patient and Predictable
The Federal Reserve meets next on June 17, and most experts expect no change to short-term interest rates. There has been growing discussion that the Fed could raise rates later this year, but no decision has been made and importantly, the Fed’s short-term rate doesn’t always move mortgage rates in the same direction. The Fed is being patient, and patience tends to translate into a more predictable market for buyers and sellers.
Mortgage Rates: Lower Than Last Year
Mortgage rates have ticked up over the past few weeks, following broader movement in the bond market. The good news: rates are still roughly 0.3% lower than they were this time last year. For a buyer who was running the numbers last spring, today’s payment on the same home looks meaningfully better. Rates aren’t at last year’s lows, but they are not at last year’s highs either, and that’s a window worth a real conversation.
Buyer and Seller Impact: Opportunity on Both Sides
Buyers benefit from rates that have improved year-over-year and from a market where sellers are increasingly willing to engage on price and terms. Sellers benefit from buyers who are more prepared, more pre-approved, and more focused than they were a year ago. Both sides win when expectations are grounded in today’s numbers, not last year’s headlines.
Agent Impact: Your Agent and Lender Are Your Edge
Markets that move sideways are the markets where local expertise matters most. A trusted real estate agent reads the neighborhood, and a trusted lender translates today’s rate into a real, personal payment scenario. Together, that combination turns a market full of headlines into a clear path forward, whether you’re buying your first home, moving up, or selling and starting your next chapter. Reach out anytime; we’re here to help you make a confident decision.
